Earnest Partners LLC Reduces Stake in Diodes Incorporated $DIOD

Earnest Partners LLC lessened its stake in shares of Diodes Incorporated (NASDAQ:DIOD) by 5.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,085,173 shares of the semiconductor company’s stock after selling 59,826 shares during the period. Earnest Partners LLC owned 2.34% of Diodes worth $57,742,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Salomon & Ludwin LLC purchased a new position in Diodes during the third quarter worth about $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of Diodes by 77.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company’s stock worth $25,000 after buying an additional 205 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Diodes during the 2nd quarter valued at approximately $30,000. MAI Capital Management lifted its holdings in Diodes by 150.0% in the third quarter. MAI Capital Management now owns 685 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 411 shares during the last quarter. Finally, Quadrant Capital Group LLC purchased a new position in Diodes in the third quarter worth approximately $153,000. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Insider Buying and Selling at Diodes

In related news, CEO Gary Yu sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $60.85, for a total transaction of $176,465.00. Following the sale, the chief executive officer directly owned 111,671 shares of the company’s stock, valued at $6,795,180.35. This represents a 2.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keh Shew Lu sold 111,000 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $67.76, for a total transaction of $7,521,360.00. Following the sale, the director owned 180,131 shares in the company, valued at approximately $12,205,676.56. This trade represents a 38.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 116,205 shares of company stock valued at $7,837,213. Corporate insiders own 2.30% of the company’s stock.

Diodes Trading Up 3.6%

Shares of NASDAQ DIOD opened at $63.88 on Monday. The company has a current ratio of 3.32, a quick ratio of 2.08 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.93 billion, a PE ratio of 44.99 and a beta of 1.61. Diodes Incorporated has a twelve month low of $32.93 and a twelve month high of $81.71. The stock has a fifty day simple moving average of $62.15 and a 200-day simple moving average of $55.19.

Diodes (NASDAQ:DIOD) last posted its earnings results on Tuesday, February 10th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. The firm had revenue of $391.58 million for the quarter, compared to analyst estimates of $380.03 million. Diodes had a return on equity of 2.95% and a net margin of 4.46%.Diodes’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. On average, equities analysts forecast that Diodes Incorporated will post 1.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wall Street Zen raised Diodes from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Benchmark increased their price target on Diodes from $62.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Truist Financial raised their price objective on Diodes from $54.00 to $67.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Weiss Ratings upgraded shares of Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Finally, Zacks Research cut shares of Diodes from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $65.67.

Diodes Company Profile

Diodes Incorporated (NASDAQ: DIOD) is a global manufacturer and supplier of high‐performance discrete, logic, analog and mixed‐signal semiconductor products. Headquartered in Plano, Texas, the company designs and develops a broad range of discrete components, standard logic functions, power management circuits, interface products and array products. Its portfolio includes rectifiers, MOSFETs, general‐purpose diodes, voltage regulators, comparators, buffers and other building blocks for electronic systems.

Diodes Incorporated serves a variety of end markets such as automotive, computing, communications, consumer electronics, industrial and lighting.